There are plenty of opportunities to get grants for your new business if you are willing to put in the time and apply.Getty Images
Ask Women and Work
Question: After years working in larger companies, I want to start my own business. How do I know if it’s the right time to take that leap, and what steps should I take to make it happen?
We asked Fatima Zaidi, founder and CEO at Quill Inc., to tackle this one. Quill was ranked number one on The Globe and Mail’s 2025 list of top growing women-led companies:
There isn’t a ‘right time’ to start a business. Being a founder is an iterative process; you iterate on the journey and you eventually figure it out. You won’t know if it’s right for you until you give it a shot.
There are certain skills that can help you in becoming an entrepreneur. My background was in sales, which was helpful because there is that emotional roller coaster and uncertainty. You have highs and lows in sales, and that is also life as an entrepreneur. Especially early on, there are probably more bad days than good days, but the risk-reward is worth it and on your worst days you wouldn’t want to be doing anything else.
If you decide to take the leap, there are steps you can take to set yourself up for success.
Incorporate. This is an important first step and there are organizations, like Ownr for example, that can help you through the process.
Bootstrap, if you can. I am a huge proponent of bootstrapping your business. It creates a culture of resiliency because you ‘kill what you eat’ and it forces you to be lean. At Quill, from day one, cash flow was always king. We launched the agency first, working with Fortune 500 brands to create and market their podcasts. After a couple years, when we saw the gaps in the market, we were able to build a product to solve for those gaps. I think that’s what people need to do more of, to say, ‘I have this great idea. Can I start with a service version of it to make money? Can I get proof of concept before I raise $2-million or put in a few hundred thousand dollars of my own money?’
Take care when hiring your first employees. The folks I’ve hired have been critical to our success. They’ve grown with the business and have so much proprietary knowledge. I never hired the folks with fancy resumes. I always prioritize hiring people with grit, resilience, work ethic and great attitudes – people I can trust to reflect the values of the culture that we’re building. My first employee was my COO who is, to this day, my right-hand person. Think about who will be that key person in the early days of your business to help you scale.
Apply for grants. I put in $10,000 of my own money to start my business, but not everyone has that luxury. If you are a Canadian citizen, there are so many grants and loans you can tap into. I brought in $250,000 of grant funding in my first year. There are small business grants from TELUS and DHL, the VISA She’s Next Grant Program, the Career Edge Canada-Ontario Job Grant, the Canada Post BDC Small Business Loan, the Amber Grant for women, the Futurpreneur Core Startup Program and so many more. There is no shortage of opportunities if you are willing to put in the time.
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